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U.S.Compounding Pharmacies Market Revenue & Growth Analysis 2024 By Top Players Absolute Pharmacy, B. Braun Medical, Baxter, Cantrell Drug Company, Central Compounding Center, Clinigen Group, Dougherty?s Pharmacy, Fagron, Fresenius Kabi, ICU Medical
Compounding Pharmacies
Pediatric application segment is expected to witness 6.2% CAGR over the forecast period. Oral compounded medication, especially in the form of liquid preparations is widely accepted among pediatric patient base owing to availability of flavored medicine, or different dosage forms to avoid difficulty in swallowing. Aforementioned advantages will further surge the demand for compounded medication thereby expanding segment size.
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Some of the notable players operating in U.S. compounding pharmacies market are Absolute Pharmacy, B. Braun Medical, Baxter, Cantrell Drug Company, Central Compounding Center, Clinigen Group, Dougherty?s Pharmacy, Fagron, Fresenius Kabi, ICU Medical, Institutional Pharmacy Solutions, Lorraine?s Pharmacy, McGuff Compounding Pharmacy Services, McKesson Corporation, Nephron Pharmaceuticals, Pencol Compounding Pharmacy, Pentec Health, PharMEDium, Premier Pharmacy Labs, Rx3 Compounding Pharmacy, RXQ Compounding Pharmacy, Triangle Compounding Pharmacies, Wedgewood Village Pharmacy and Wells Pharmacy Network. Major focus of the industry players is on strategic mergers and acquisitions to diversify product portfolio and maintain market position.
U.S. Compounding Pharmacies Market will exceed USD 7 billion by 2025.Growing acceptance of personalized medicines is the major factor that will boost the U.S. compounding pharmacies market growth over the forecast period. Demand for compounding pharmacies is increasing among individuals requiring medication at a strength unavailable in the market or drugs that are not available commercially. Compounded medication can provide best health outcomes for majority of patients including young infants, aged individuals as well as allergy sufferers, thereby surging compounded pharmacies market growth.
503B compounding pharmacy held the largest revenue share of 52.4% in 2017 and is estimated to witness lucrative growth over the analysis timeframe. The growth is attributable to bulk manufacturing of compounded drugs involved in 503B pharmacies. Ability to produce large batches of compounded drugs in lower costs will boost the segment growth.
Rapidly growing geriatric population base suffering from various chronic diseases will further drive the U.S. compounding pharmacies market. Compounded medication offers benefits such as formulation of liquid dosage for patients with difficulty in swallowing pills, combining certain prescriptions into single dose permitting patients to take one pill instead of many as well as availability of hypoallergenic versions of drugs for individuals allergic to certain dyes and preservatives. Increasing demand for compounded medication owing to aforementioned advantages will further foster the business growth. However, continuous regulatory changes pertaining to compounding pharmacies may hamper the industry growth during the coming years.
Oral product segment accounted for the highest market share of more than 30% in 2017 and will witness similar trend in the coming years. Increasing adoption of oral dosage forms among pediatric as well as geriatric population due to ease of administration will augment the oral product growth.
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Dermatology segment accounted for USD 834.9 million in 2017 and will show robust CAGR over the analysis period owing to high adoption of compounded dermatology products in treatment of various skin diseases in developed as well developing economies. According to American Academy of Dermatology, in 2013, around 84.5 million Americans were impacted by skin diseases. Increasing burden of skin diseases in the region due to various environmental factors will further accelerate segment growth.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. Compounding Pharmacies Industry Insights
Chapter 4. U.S. Compounding Pharmacies Market, By Pharmacy Type
Chapter 5. U.S. Compounding Pharmacies Market, By Sterility
Chapter 6 U.S. Compounding Pharmacies Market, By Product
Chapter 7. U.S. Compounding Pharmacies Market, By Application
Chapter 8. U.S. Compounding Pharmacies Market, By Compounding Type
Chapter 9. U.S. Compounding Pharmacies Market, By Therapeutic Area
Chapter 10. Company Profiles
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Related Report:
Global Compounding Pharmacies Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
This report focuses on the Compounding Pharmacies in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Compounding pharmacies produce drugs prepared by licensed pharmacist or under the guidance of a physician, tailored or customized to meet the needs of individual patients. Compounded drugs are prepared by altering, combining, or mixing the necessary active pharmaceutical ingredients in appropriate proportions.
https://www.marketstudyreport.com/reports/global-compounding-pharmacies-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023/?utm_source=RR-PSR
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